IMC study plan
IMC · Give each week a clear focus.
8 weeks · About 7 hours per week
Investment Management Certificate content (official domain weights not published in source)
Map the full IMC syllabus into a one-page topic tree covering asset classes, regulation and ethics, investment analysis, and portfolio management
Define and write out the core distinction between real and financial assets, and between primary and secondary markets
Calculate simple and compound returns, holding-period return, and the difference between arithmetic and geometric mean return on a set of practice figures
List the main UK regulatory bodies and their roles at a headline level, and note where CISI sits as the awarding body
Your checkpoint
A one-page syllabus map plus a worked answer sheet of 10 return calculations with correct arithmetic and geometric means shown
Investment Management Certificate content (official domain weights not published in source)
Explain how equities, bonds, and cash differ in risk, return, and income characteristics
Describe the structure and purpose of collective investment schemes, including open-ended and closed-ended vehicles
Compute net asset value per share and explain the effect of a bid-offer spread on an investor's return
Identify the main types of derivative (futures, options, swaps) and state one use and one risk for each
Your checkpoint
A comparison table of five asset classes rated on risk, return, liquidity, and income, with three NAV calculations shown step by step
Investment Management Certificate content (official domain weights not published in source)
Interpret the purpose and key mechanics of the UK regulatory framework, including authorisation, approved persons, and the role of the FCA and PRA
Distinguish between retail and professional clients and state the protections attached to each category
Summarise the core principles for business and apply them to two short scenario descriptions
Explain the purpose of the Financial Services Compensation Scheme and the Financial Ombudsman Service, including headline limits
Your checkpoint
A written answer to two regulatory scenarios, each identifying the relevant rule or principle and the correct client outcome
Investment Management Certificate content (official domain weights not published in source)
Apply the core ethical standards expected of investment professionals to three conflict-of-interest scenarios
Explain market abuse, insider dealing, and market manipulation with one example of each
Describe how client money and assets are protected under segregation rules
Recite the key disclosure obligations around charges, commissions, and inducements
Your checkpoint
A short ethics case note resolving three conflicts of interest with a stated rule and justified decision for each
Investment Management Certificate content (official domain weights not published in source)
Calculate and interpret the main investment ratios: price-earnings, dividend yield, earnings per share, and price-to-book
Explain how a bond's price responds to a change in yield, and compute approximate price change using duration
Distinguish between gross and net redemption yield and identify the factors affecting a bond's yield
Describe the yield curve and state what an inverted curve may signal
Your checkpoint
A worked problem set of 15 ratio and bond calculations, all marked with errors corrected and method notes written alongside
Investment Management Certificate content (official domain weights not published in source)
Explain the risk-return relationship and distinguish systematic from unsystematic risk
Describe diversification and compute the effect of combining two assets with given weights and correlation
Interpret standard deviation, beta, and the Sharpe ratio, and state what each measures
Outline the assumptions and implications of modern portfolio theory and the efficient market hypothesis
Your checkpoint
A two-page risk summary showing a two-asset portfolio calculation, a beta interpretation, and a Sharpe ratio worked example
Investment Management Certificate content (official domain weights not published in source)
Explain the investment policy statement process, including risk tolerance, time horizon, and liquidity needs
Compare strategic and tactical asset allocation and state when each is appropriate
Describe the principles of portfolio rebalancing and the effect of charges and tax on net returns
Summarise the main performance measurement approaches, including money-weighted and time-weighted returns
Your checkpoint
A draft investment policy statement for a hypothetical client, with an asset allocation rationale and an explanation of how performance would be measured
Investment Management Certificate content (official domain weights not published in source)
Consolidate weak areas by re-testing every topic flagged as below standard in earlier weeks
Complete a full timed mock under exam conditions and record the score by topic
Review every incorrect mock answer and write the correct reasoning in your own words
Produce a one-page formula and definitions sheet from memory and check it against notes
Your checkpoint
A completed timed mock with a topic-by-topic score breakdown and a corrected-answer log covering every wrong response
Milestones
Week 2: You can explain the difference between equities, bonds, and collective schemes, and compute NAV per share and a holding-period return without notes
Week 4: You can name the main UK regulators, categorise a client correctly, and resolve a conflict-of-interest scenario citing the relevant principle
Week 6: You can compute a price-earnings ratio, an approximate bond price change from duration, and a Sharpe ratio, and explain what each result means
Week 8: You score at or above your target pass mark on a full timed mock, and can restate the reasoning behind every previously missed question